DASHBOARD | Digital Banking


The GCC enjoys a unique combination of highly educated people, high levels of income and uptake of digital equipment. Mobile usage is very developed in the region, which is a fertile ground for mobile banking. However, uptake has still not reached its full potential, mainly because the proposed solutions are falling short of customer expectations.


In the GCC, smartphones are “a way of life” for a dominant majority of banking customers …


A large number of the surveyed banking customers use smartphone apps daily and build their digital expectations based on these interactions.


88%


Use email daily on their smartphones.


82% 72%


if surveyed banking customers are equipped with modern smartphones.


The market is almost evenly split between the two leading smartphone device vendors, with respectively 46% and 49%.


... yet mobile banking has not fully taken off.


A large number of transactions are still made on home computers or at ATMs, or through traditional channels involving human interaction, such as branches or call centers. Only a limited number of banking transactions are completed via mobile banking.


Smartphone penetration for main banking interactions is low. 23%


52 22% 13% 15% 19% 7% 8% 7% 6%


Youth: < 35 years Mid-aged: between 35 and 50 Senior: > 50 years


9% 6% 0% Balance inquiry Payment and transfer Service request Advice and issues www.wealth-monitor.com | February 2016 57%


Use social media daily on their smartphones.


Use instant messaging daily on their smartphones.


Use GPS navigation daily on their smartphones.


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